Indian Market Outlook:
GST bill is to see passage in Rajya Sabha today marking an important era in India's indirect taxation. As per Dynamic Levels, after the GST announcement, Nifty may fall sharply.
1. The global markets including US, Europe and Asia are showing weakness since last 3 trading sessions.
2. Crude Oil prices have been falling and is currently trading below its 3 month low.
3. Seasonally, August month is a negative month with big falls witnessed in the past.
Nifty is facing resistance at 8735-8750 and yesterday being the third consecutive day markets face profit booking from these levels. Banking stocks were lackluster in trading yesterday moving in a narrow range. Nifty has being rising for the past five months which has resulted in rich valuations fundamentally with P/E multiple of nifty stocks at 24 which is on the higher side.
Top 5 gainers were ITC, Maruti, HCL Tech, Bank of Baroda and Tech Mahindra
Nifty Futures is expected to open at 8625 as per SGX Nifty at 8:30 am IST, which is 35 points below its previous close of 8660.
International Market Outlook:
International markets have seen profit booking for second consecutive day with S&P Futures going below two weeks low of 2149 and is currently trading at 2151.
German Dax has seen selloff of 300 points in last two trading sessions. The profit booking has been global in nature and effecting markets of US, Europe and Asia.
Today morning Japan Nikkei is trading below previous week low of 16172, down 0.87% from yesterday's close.
Help from: Dynamic Levels
GST bill is to see passage in Rajya Sabha today marking an important era in India's indirect taxation. As per Dynamic Levels, after the GST announcement, Nifty may fall sharply.
1. The global markets including US, Europe and Asia are showing weakness since last 3 trading sessions.
2. Crude Oil prices have been falling and is currently trading below its 3 month low.
3. Seasonally, August month is a negative month with big falls witnessed in the past.
Nifty is facing resistance at 8735-8750 and yesterday being the third consecutive day markets face profit booking from these levels. Banking stocks were lackluster in trading yesterday moving in a narrow range. Nifty has being rising for the past five months which has resulted in rich valuations fundamentally with P/E multiple of nifty stocks at 24 which is on the higher side.
Top 5 gainers were ITC, Maruti, HCL Tech, Bank of Baroda and Tech Mahindra
Nifty Futures is expected to open at 8625 as per SGX Nifty at 8:30 am IST, which is 35 points below its previous close of 8660.
International Market Outlook:
International markets have seen profit booking for second consecutive day with S&P Futures going below two weeks low of 2149 and is currently trading at 2151.
German Dax has seen selloff of 300 points in last two trading sessions. The profit booking has been global in nature and effecting markets of US, Europe and Asia.
Today morning Japan Nikkei is trading below previous week low of 16172, down 0.87% from yesterday's close.
Help from: Dynamic Levels
Market Eagerly Awaits GST Post That Nifty May Fall
Aucun commentaire:
Enregistrer un commentaire